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80 per cent informal economy to come under formal sector: JP Nadda

More Than 80 Per Cent Of Informal Economic Activities, Especially In The Retail Sector, Will Be Brought Into Formal Economy Through Digitalisation And Cash-less Transactions, Union Minister J P Nadda Said On Sunday.

PTI | Updated on: 19 Mar 2017, 10:55:51 PM
80 per cent informal economy to come under formal sector: JP Nadda


More than 80 per cent of informal economic activities, especially in the retail sector, will be brought into formal economy through digitalisation and cash-less transactions, Union minister J P Nadda said on Sunday.

It will increase the number of tax payers with availability of adequate funds for development, the Union Health Minister said at ‘Digidhan Mela’ in Shimla.

He said 27 crore savings bank accounts were opened under Jan Dhan Yojana with a deposit of Rs 63,800 crore and that this amount could be used for economic development.

Himachal Pradesh Information Technology, Irrigation and Public Health Minister Vidya Stokes said that the state government was promoting computerisation in every department and advocating cash-less system for government transactions.

She said the state was ready for adopting the Goods and Services Tax (GST).

Earlier addressing BJP workers, Nadda said that landslide victory of the party in the recent assembly polls was endorsement of policies of Prime Minister Narendra Modi and claimed that “winds of change are blowing in Himachal Pradesh and the BJP would oust the Congress government in coming assembly polls”.

He called upon the party workers to work hard to ensure victory of the party in the assembly polls later this year.

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First Published : 19 Mar 2017, 10:45:00 PM